Equity
-€9,926
Debts exceed assets in financial year 2025.
FIDECOR
Overview
Lifetime
3 annual accounts with figures on one time axispeak €12,524 (2025)
€12,524▲ €32,979
lowest -€20,537 (2024)
€9,058▲ €29,594
peak €1,553 (2023)
-€9,926▲ €9,058
€40,557▲ 20.3%
Board1 name since 2022
1 directorBUGA Claudiu-Mihai
Documentsfilings and deeds
07-06-202654 days before the deadline
2025micro format
Gross margin from -€20,455 to €12,524Back to profit: €9,058Equity from -€18,983 to -€9,926Debts from €33,716 to €40,557Cash from €3,661 to €382
Key points
from the 2025 annual accountsTurnover
≈ €150,000 estimated
The micro format states no turnover.
Debts
€40,557 132% of the balance sheet
Investments
€12,397 11.9 × depreciation
Green is investment, beige is depreciation.
At the same address
26 companies
Position in the sector
-32.4%
Lower solvency than 92% of companies in construction of buildings. Sector median 42.9% · 9,452 companies.
Checked score
49
Fair
Financially stronger than 44% of micro companies in construction of buildings (NACE 41)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
3.8% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 1.5% across 13,458 companies (NACE 41, micro).
About 4 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 3.7%
01-2025: 3.8%▲ +0.1 percentage points vs 12-2024
02-2025: 3.8%● unchanged vs 01-2025
03-2025: 3.9%▲ +0.1 percentage points vs 02-2025
04-2025: 4.0%▲ +0.1 percentage points vs 03-2025
05-2025: 4.1%▲ +0.1 percentage points vs 04-2025
06-2025: 4.1%● unchanged vs 05-2025highest value
07-2025: 3.0%▼ -1.1 percentage points vs 06-2025
08-2025: 3.0%● unchanged vs 07-2025
09-2025: 3.0%● unchanged vs 08-2025
10-2025: 3.0%● unchanged vs 09-2025
11-2025: 2.5%▼ -0.5 percentage points vs 10-2025
12-2025: 2.4%▼ -0.1 percentage points vs 11-2025
01-2026: 2.4%● unchanged vs 12-2025
02-2026: 2.4%● unchanged vs 01-2026
03-2026: 2.3%▼ -0.1 percentage points vs 02-2026
04-2026: 2.3%● unchanged vs 03-2026lowest value
05-2026: 2.4%▲ +0.1 percentage points vs 04-2026
06-2026: 2.5%▲ +0.1 percentage points vs 05-2026
07-2026: 3.8%▲ +1.3 percentage points vs 06-2026
08-2026: 3.8%● unchanged vs 07-2026
09-2026: 3.8%● unchanged vs 08-2026
10-2026: 3.8%● unchanged vs 09-2026
11-2026: 3.8%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Sector: Construction of residential and non-residential buildings (NACE 41)
Founded in 2022
Negative equity -€9,926
Liquidity: current ratio 0.48, cash €382, halved
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 41, micro). It does better than 3% of them on solvency, 4% on liquidity, 91% on profitability and 79% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 1,017 companies had the same profile as FIDECOR has now. Each dot stands for 3 companies, two years later.
89.2%
were still trading
4.0%
stopped another way
6.5%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of FIDECOR itself: 3.8% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,017 companies, not a prediction for FIDECOR. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.48 (0.44 in 2024), below 1. Short-term debt is 132.4% and cash 1.2% of total assets. Equity is negative.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
raises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 7% of 9452 sector peers (2025).
NBB · sector comparisonPosition among 9452 sector peers
Solvency
better than 7%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 07-06-2026, 54 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
54 days early
2024
42 days early
2023
45 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 3 accounts on average 47 days before the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 17 June (3 of the last 3 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
08-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0782634008
Incorporation
Founding capital of €1,500, 100 shares · Founder: BUGA Claudiu-Mihai · Appointment: BUGA Claudiu-Mihai (director) · published on 01-03-2022 · Gazette deed
First establishment
Pierre Vandevoordestraat 32, Anderlecht
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| FIDECOR Asse | €30,631 | €12,524 | -32.4% | - |
| BARECOINHOTECH Zaventem | €29,884 | €11,461 | 84.4% | - |
| Van Nuffel Projects Ternat | €34,899 | €13,454 | 57.1% | - |
| MBA SOLUTIONS Dilbeek | €37,023 | €13,652 | 59.3% | - |
| FLEX COMPANY Grimbergen | €34,640 | €11,678 | 38.3% | - |
| DE PUE LUC Beersel | €32,871 | €10,441 | -11.6% | - |
| PROJET CARRO Wemmel | €29,150 | €14,462 | 61.2% | - |
These companies have the same main activity as FIDECOR: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €29,100 and €37,000, founded between 2021 and 2022.
Official details
Source: KBO- Status
- Active since 25-02-2022Normal situation
- Registered office
- 27 active companies are registered at this address3 started in the 12 months before. Source: KBO register, as of 8 November 2026.
- Activity
- General construction of residential buildingsNACE 41001and 1 other
- Establishment unit
- 2.337.783.2411070 Anderlecht, since 25-02-2022
- Financial year end
- 31 December
- Peppol
- Reachable since 30-09-2025
Annual accounts 2025
- €12,524
- €9,058
- -€9,926▲ 47.7%
- €30,631▲ 108%
- Filing
- Filed on 07-06-2026, 54 days before the end of the filing period
Insights on FIDECOR
The computed 12-month bankruptcy probability of FIDECOR is 3.8% (moderate). The 2025 annual accounts show negative equity (-€9,926) and a net result of €9,058.
Equity has been shrinking by about 58% per year since 2023. Its solvency ranks better than 7% of 9,452 sector peers (NACE 41, financial year 2025).
The company has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 07-06-2026, 54 days before the deadline€12,524
▲ €32,979
€9,382
▲ €29,836
€10,423
€10,099
-32.4%
▲ 96.4 percentage points
0.48
▲ 0.04
Money flows
no detail for 2025Balance sheet
balance sheet total €30,631 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
-32.4%
Higher than 7% of 9,452 companies in 2025.
0.48
Higher than 7% of 9,200 companies in 2025.
29.6%
Higher than 84% of 9,272 companies in 2025.
FIDECOR
Middle half of the sector
80% of the sector
Micro accounts in construction of buildings (NACE 41)
Net result: middle half · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: bottom quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
30,631 | 14,733 | 6,080 | |
21/28 |
11,355 | - | - | |
22/27 |
11,355 | - | - | |
24 |
11,355 | - | - | |
29/58 |
19,276 | 14,733 | 6,080 | |
40/41 |
18,894 | 11,072 | 5,703 | |
40 |
10,020 | 9,643 | 4,136 | |
41 |
8,874 | 1,429 | 1,567 | |
54/58 |
382 | 3,661 | 377 | |
| Balance sheet: equity and liabilities | ||||
10/49 |
30,631 | 14,733 | 6,080 | |
10/15 |
-9,926 | -18,983 | 1,553 | |
10/11 |
1,500 | 1,500 | 1,500 | |
14 |
-11,426 | -20,483 | 53 | |
17/49 |
40,557 | 33,716 | 4,527 | |
42/48 |
40,557 | 33,716 | 4,527 | |
42 |
- | - | 4,527 | |
44 |
23,777 | 834 | - | |
440/4 |
23,777 | 834 | - | |
47/48 |
16,780 | 32,882 | - | |
| Income statement | ||||
70 |
- | - | 64,379 | |
9900 |
12,524 | -20,455 | - | |
60/61 |
- | - | 64,283 | |
630 |
1,042 | - | - | |
640/8 |
2,101 | - | - | |
9901 |
9,382 | -20,455 | - | |
75/76B |
- | - | 29 | |
75 |
- | - | 29 | |
65/66B |
324 | 82 | 29 | |
65 |
324 | 82 | 29 | |
9903 |
9,058 | -20,537 | - | |
780 |
- | - | 67 | |
67/77 |
- | - | 13 | |
9904 |
9,058 | -20,537 | 53 | |
9905 |
9,058 | -20,537 | 53 | |
| Appropriation of the result | ||||
9906 |
-11,426 | -20,483 | 53 | |
14P |
-20,483 | 53 | - | |
| Document | ||||
The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 07-06-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| 10,423 | - | - | ||
| 10,099 | - | - | ||
| 12,397 | - | - | ||
| -3,279 | 3,284 | - | ||
| -21,281 | -18,983 | 1,553 | ||
| -32.4% | -128.8% | 25.5% | ||
| 0.48 | 0.44 | 1.34 | ||
| - | - | 2.91 | ||
| - | - | 3.4% | ||
| 29.6% | -139.4% | 0.9% | ||
| 32.18 | - | - | ||
| - | - | 23 days |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €12,397 | - | - |
| €1,042 | - | - |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Insights on FIDECOR
The operating result for 2025 is a profit of €9,382, after a loss of €20,455 in 2024.
Equity is negative. Debt (€40,557) exceeds the balance-sheet total (€30,631).
Board & ownership
Board
1 director, since incorporation- Signing authorityThe articles say who may bind the company, for example by signing a contract.
- “Indien de vennootschap door meer dan één bestuurders wordt bestuurd, en behoudens inrichting door de algemene vergadering van een collegiaal…”deed of 01-03-2022
Mandates through the years
1 name, the dashed line is todayBUGA Claudiu-Mihai
Director
Director
Board
Mandates as a list
- BUGA Claudiu-Mihai
- Director, appointed by deed of 01-03-2022, still in office
Control
Capital
- Contribution
- €1,500
- Shares
- 100
- Contribution per share
- €15
- Equity per share
- -€99.26 in 2025
- Source
- deed of 01-03-2022
Articles of association
deed of 01-03-2022 (in Dutch)- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- First Friday of June at 16:00
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one.
- No statutory auditor
Shareholders
At incorporation
deed of 01-03-2022 ↗
- BUGA Claudiu-Mihai 100 shares (100%)
Network & group
No group
FIDECOR has no parent and no holdings in its annual accounts. BUGA Claudiu-Mihai is the only director. FIDECOR shares no director with another company.
At the same address
Nieuwstraat 118, 1730 Asse · 26 other companies| VB PROJECT CONSULTING
registered office since 05-10-2021 · founded in 2021 · accounts filed late |
total assets €487,681 (2024) 0775.344.952 |
| GTC COMPANY
registered office since 28-09-2022 · founded in 2022 |
total assets €167,165 (2025) 0791.524.354 |
| SOLUTEC CONSULT
registered office since 03-04-2023 · founded in 2023 |
total assets €124,564 (2025) 0800.323.046 |
| EAC CONSTRUCT
registered office since 21-04-2020 · founded in 2020 |
total assets €103,792 (2025) 0746.439.645 |
| MAXI QUALITY
registered office since 19-01-2022 · founded in 2022 |
total assets €96,766 (2025) 0780.643.231 |
| Luxor Business
establishment since 06-03-2020 · founded in 2020 · negative equity (2025) |
total assets €95,027 (2025) 0744.822.715 |
| JAN NICOLAS
registered office since 29-09-2021 · founded in 2021 |
total assets €81,027 (2025) 0774.783.144 |
| A.E.G. Construct
registered office since 14-10-2021 · founded in 2021 |
total assets €64,743 (2025) 0775.748.986 |
| NEI GROUP
registered office since 07-07-2021 · founded in 2021 |
total assets €62,896 (2025) 0770.847.716 |
| IZOCOM
registered office since 04-01-2022 · founded in 2022 |
total assets €46,340 (2025) 0779.670.063 |
Timeline
Timeline
8 events since 2022Filings
Financial
Establishments
20222023202420252026
Deadline for the 2026 accounts: 31-07-2027
2026
Annual accounts 2025 filed PDFmicro format · 54 days before the deadline
2025
Back to profit net €9,058 The net result is €9,058, after one loss-making year.
Registered in the Peppol Directory Reachable for e-invoices through 0208:0782634008
Annual accounts 2024 filed PDFmicro format · 42 days before the deadline
2024
Weakest financial year net -€20,537 The net result drops to -€20,537, the lowest from 2023 to 2025. It recovers the following year.
Annual accounts 2023 filed PDFmicro format · 45 days before the deadline
2022
IncorporationFounding capital of €1,500, 100 shares · Founder: BUGA Claudiu-Mihai · Appointment: BUGA Claudiu-Mihai (director) · published on 01-03-20223 points ▸
- Founder, BUGA Claudiu-Mihai
- Founding capital, €1,500, 100 shares
- Director appointment, BUGA Claudiu-Mihai
- The deed holds 4 more points.
First establishment Pierre Vandevoordestraat 32, Anderlecht
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
On 25 February 2022, FIDECOR was incorporated as a private limited company by one natural person, with a starting capital of €1,500.12 BUGA Claudiu-Mihai is director of the company, appointed by deed of 01-03-2022.2 Total assets went from €6,080 in 2023 to €30,631 in 2025.3
Company details
Identity
- Enterprise number
- 0782.634.008
- VAT number
- BE 0782.634.008
- Peppol ID
- 0208:0782634008
- Other Peppol ID
- 9925:BE0782634008
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 25-02-2022
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- First Friday of June at 16:00deed of 01-03-2022 (in Dutch)
- Peppol
- Reachable since 30-09-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- FIDECOR in Dutch
- Entity type
- Legal entity
- Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
- “Nieuwstraat 118, 1730 Asse”deed of 01-03-2022 (in Dutch)
Activities
NACEBEL 202541001
General construction of residential buildings main activity
Codes under NACEBEL 2008
41201
General construction of buildings main activity
41203
Construction of residential and non-residential buildings
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Algemene bouwonderneming,omvattende de coördinatie van de werkzaamheden op de bouwwerf,evenals de coördinatie van de veiligheid,het bouwrijp…”deed of 01-03-2022 (in Dutch)
5 activities
- Algemene bouwonderneming,omvattende de coördinatie van de werkzaamheden op de bouwwerf,evenals de coördinatie van de veiligheid,het bouwrijp maken van terreinen,slopen van gebouwen,ruimen van bouwterreinen,bouwen en renovatie,in de meest ruime zin en alle mogelijke technische verrichtingen met betrekking tot de bouw,renovatie en voltooiing op onroerend gebied,waaronder:de constructie,montage,aanleg,omvorming,aanpassing en afwerking van elk gebouw:alle activiteiten met betrekking tot schilderwerken,elektriciteitswerken,schrijnwerkerij,metaalschrijnwerkerij,tapijtwerk,bekledingen van muren en bodems,isolatie,cementwerk,plafonnering,verfwerken,metsel- en betonwerken,het afmeten en leggen van stenen en marmer,beglazing,zinkwerken,metalen en niet metalen afdekking,afbraakwerken,installatie van centrale verwarming,gasverwarming door individuele apparaten,van sanitair,loodgieterij,het plaatsen van elektrische apparatuur en bedrading,installatie van luiken,zonnepanelen,traliewerk,serres,veranda’s,glaszetten,plaatsing van zwembaden,het plaatsen van verwarming,herstelling van gevels,het plaatsen van thermische en akoustische isolatie,werkzaamheden van drooglegging van bouw andere dan door asfalt;de bouw van uitneembare paviljoenen en niet-metalen constructies,het plaatsen van sloten,het leggen van parketten,het plaatsen van wanden en plafonds in hout,alle plaatsing van PVC materialen…
- Alle werkzaamheden van aanpassing van speelvlaktes en sportvelden,parken en tuinen met inbegrip van de aanplantingen,het plaatsen van kabels en diverse kanalisaties.
- De installatie van systemen voor ventilatie,voor verwarming door warme lucht,voor conditionering van lucht evenals het plaatsen van industriële leidingen.
- Alle ondernemingen,initiatieven of verrichtingen met het oog op het verkrijgen of vervreemden van onroerende goederen,evenals het overgaan tot de verkaveling van terreinen,de valorisatie,de promotie,de verhuur,het beheer en de renovatie van alle gebouwde en niet gebouwde onroerende goederen,voor eigen rekening en enkel ten patrimoniale titel,zowel in België als in het buitenland.
- De reiniging,het schoonmaken,het onderhoud,de verbetering,de desinfectering,van alle lokalen ruimtes en gebouwen in de meest ruime zin,zowel industrieel als commercieel,publiek of privé,evenals de reiniging en restauratie van gevels,vensters,glazen oppervlakken en ornamenten,zowel binnen als buiten,evenals de handel onder al haar vormen,met name de verkoop,aankoop,verhuur,huur,van alle producten en alle materiaal nodig of nuttig in het kader van deze werken,of welke daar rechtstreeks of onrechtstreeks mee in verband staan.
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Nieuwstraat 118 registered office 1730 Asse | ||
| Pierre Vandevoordestraat 32 1070 Anderlecht 43331 Floor and wall tiling | 25-02-2022 | 2.337.783.241 |
Buildings and parcels at the addresses
- Ground area
- 1.2 ha
- Buildings
- 2,485 m²
- Volume, LiDAR
- 17,799 m³
- Tallest building
- 15.3 m
Buildings to scale, each on its own parcel
Parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 23002F0049/00Z005 | Flanders | 1.1 ha | 1 · 2,214 m² | 14.5 m · 2 |
| 21001A0474/00G002 | Brussels | 639 m² | 1 · 271 m² | 15.2 m · 4 |
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0782.634.008